Thomson to Acquire Canal+ Technologies; Thomson Strengthens Its Technology and IP Portfolio.Business Editors & High Tech Writers PARIS--(BUSINESS WIRE)--Sept. 25, 2002 Thomson multimedia (NYSE NYSE See: New York Stock Exchange :TMS TMS Transcranial Magnetic Stimulation (alternative medicine for depression) TMS Test Match Special (sports - cricket) TMS Texas Motor Speedway TMS Transportation Management System TMS Toyota Motor Sales )(Euronext:18453) has reached a definitive agreement to acquire the 89% shareholding in Canal+ Technologies from Canal+ Group for a gross amount of EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 190 million, including existing cash and cash equivalents in Canal+ Technologies and subject to post-closing adjustments. Prior to today's announcement, Thomson owned 3.19% of the equity of Canal+ Technologies. The other minority equity partners are Sony Corp. of Japan, Sogecable SA of Spain and U.S. software company Sun Microsystems Sun Microsystems, Inc. (NASDAQ: JAVA[3]) is an American vendor of computers, computer components, computer software, and information-technology services, founded on 24 February 1982. Inc. The transaction is subject to regulatory approvals. Canal+ Technologies is a leading worldwide provider of conditional access and middleware technology solutions, marketed under the brand names of MediaGuard(TM) and MediaHighway(TM) to digital TV operators. Canal+ Technologies software solutions are deployed today in more than 14 million set top boxes worldwide. MediaGuard, the third largest worldwide conditional access system A conditional access system (CAS) is a system by which electronic transmission of digital media, especially satellite television signals through cable, is limited to subscribed clients. This is called conditional access. , enables digital TV operators to offer encrypted TV channels on a fully secured platform. With MediaHighway, the second largest worldwide interactive TV middleware technology provider, digital TV operators deliver a wide range of advanced interactive TV applications such as Electronic Program Guides, Pay-Per-View and home banking. MediaGuard and MediaHighway can run either jointly or separately. For Thomson, this acquisition is motivated first and foremost by the technology leadership and IP portfolio of Canal+ Technologies in the areas of conditional access and interactive software solutions. In addition, Thomson is very attentive to the consolidation taking place in Canal+ Technologies' business sectors . Consequently, immediately upon closing, Thomson will enter into partnership discussions of an industrial, strategic and financial nature with other leading technology companies. These discussions will be held with the interests of Thomson, Canal+ Technologies, and their respective clients, in mind. Canal+ Technologies operating units will be managed within Thomson New Media Services division. Like all Thomson's divisions, NMS See NetWare Management System. develops arm's length arm's length adj. the description of an agreement made by two parties freely and independently of each other, and without some special relationship, such as being a relative, having another deal on the side or one party having complete control of the other. relationships with the rest of the Group. This is true in particular with respect to the Broadband Access Products and Systems (BAPS BAPS British Association of Plastic Surgeons (now British Association of Plastic, Reconstructive and Aesthetic Surgeons) BAPS Bochasanwasi Shri Akshar Purushottam Swaminarayan Sanstha BAPS British Association of Paediatric Surgeons ) business, which provides set-top boxes and system integration expertise to network operators. Through BAPS Thomson will continue to integrate all middleware and conditional access technologies that are required by its clients. Canal+ Technologies will continue to provide technology and services to Canal+ Group and its various digital TV operators; as well as to other third-parties. It will also pursue its close cooperation with all its manufacturers' licensees including Thomson on a non-exclusive basis. Certain statements in this press release, including any discussion of management expectations for future periods, constitute "forward-looking statements" within the meaning of the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " of the U.S. Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such forward-looking statements are based on management's current expectations and beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements due to changes in global economic, business, competitive market and regulatory factors. More detailed information on the potential factors that could affect the financial results of Thomson is contained in Thomson's filings with the U.S. Securities and Exchange Commission. About Thomson With sales of 10.5 billion Euros (U.S. $ 9.3 billion) in 2001 and 73,000 employees in more than 30 countries, Thomson multimedia (Euronext:18453) (NYSE:TMS), provides a wide range of video (and enabling) technologies, systems, finished products and services to consumers and professionals in the entertainment and media industries. To advance and enable the digital media transition, Thomson multimedia has five principal activities: Digital Media Solutions, Displays and Components, Consumer Products, Patents and Licensing, and New Media Services. The company distributes its products under the THOMSON, RCA See RCA connector and video/TV history. and TECHNICOLOR brand names. For more information: www.thomson-multimedia.com. |
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